NPR’s This American Life has a great episode (“The Giant Pool of Money“) explaining in a non-technical, entertaining manner how the “credit crunch” came upon us. The episode looks at all the parts of the mortgage-backed securities chain: home owners and borrowers, brokers, banks, rating agencies, Wall Street, and foreign and domestic investors.
A special program about the housing crisis produced in a special collaboration with NPR news. We explain it all to you. What does the housing crisis have to do with the turmoil on Wall street? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the Giant Pool of Money.
This program even made the list of one of the top 10 pieces of journalism of the decade.